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Advantages and Disadvantages of different payment methods

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Why PFL Matters...a funny comic

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The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to: 5.10A define income tax, payroll tax, sales tax, and property tax 5.10B explain the difference between gross income and net income 5.10C identify the advantages and disadvantages of different methods of payment, including check, credit card, debit card, and electronic payments 5.10D develop a system for keeping and using financial records 5.10E describe actions that might be taken to balance a budget when expenses exceed income 5.10F balance a simple budget

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"Grade 6 will compare the annual salary of several occupations requiring various levels of post-secondary education or vocational training and calculate the effects of the different annual salaries on lifetime income.
Grade 6 will distinguish between debit cards and credit cards.
Grade 6 will balance a check register that includes deposits, withdrawals, and transfers.

Grade 6 will compare the features and costs of a checking account and a debit card offered by different local financial institutions.

Grade 6 will balance a check register that includes deposits, withdrawals, and transfers.
Grade 6 will balance a check register that includes deposits, withdrawals, and transfers."

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"Grade 4 described the basic purpose of financial institutions, including keeping money safe, borrowing money, and lending.
Grade 4 described how to allocate a weekly allowance among spending; saving, including for college; and sharing."

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Income Tax, Payroll Tax, Sales Tax, Property Tax, Gross Income, Net Income, Payment, Check, Credit Card, Debit Card, Electronic Payments, Financial Records, Budget, Income

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Define (Vocabulary to include income tax, payroll tax, sales tax and property tax.)
Explain (gross vs. net income)
Identify (payment methods)
Develop (keeping financial records)
Describe
Balance (simple budgets)